During Congress rule, there was "policy paralysis...tax terrorism", Jaitley said in his address at the BJP national council meet here.
"In the past 75 days, we have restored the credibility of the economy...broke policy paralysis and tax terrorism," he added.
Jaitley said that during the Congress rule the country's growth had slowed down.
When the Congress government left, Jaitley said, the industrial sector had come to a standstill and "industries had begun to shrink". "This was the condition in which the old government left the country."
He said said that during the previous government tenure, there was "institutional subversion".